Vacasa Nearly Doubles Real Estate Footprint
("Vacation rental platform Vacasa will pay $162M to acquire Wyndham Vacation Rentals," GeekWire on Jul 30, 2019)
We learned last week that Portland-based Vacasa plans to acquire Wyndham Vacation Rentals, reportedly increasing its real estate footprint by 9,000 vacation homes to expand its portfolio to approximately 21,000 vacation homes. Vacasa’s CEO, Eric Breon, expects to leverage Wyndham’s “decades of operational excellence” with Vacasa’s “next-generation technology” to deliver the best vacation rental experience for guests. Given this news and their recent announcement that they hired new CFO Jim Grube, we expect to see big things from Vacasa in the coming months and years.
Seattle Delays Registration Deadline for STR Operators. Again.
("Seattle delays deadline again for Airbnb operators to register," Seattle Times on Aug 29, 2019)
The City of Seattle has again delayed the deadline for short-term rental operators to register their units, apparently due to technical difficulties in the online registration platform. Until further notice from the City of Seattle, the new deadline is December 15th. We have heard significant frustration from Seattle-based STR operators who diligently worked to timely register their units by the now-extended September 1st deadline, but faced significant hurdles from the platform. For everyone’s sake we hope the platform bugs are fully fixed in the next three months.
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